Baking Ingredients Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Baking Ingredients Market Worth $19.4 Billion By 2025 | CAGR: 5.8%�
The global baking ingredients market is expected to reach USD 19.4 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 5.8% over the forecast period, owing to Increasing consumer preferences for wide variety of tastes is expected to be the key factor driving the growth of baking ingredients market. In addition, rise in food-away from home expenditures is also propelling market growth. Baking ingredients are widely used in various end-use segments such as bread, cookies, biscuits, cakes, pastries, rolls, pies, tarts and cupcakes. The baking ingredients market is mainly driven by the demand from the bread end-use segment, as it is the staple food in developed countries and affordable to many price sensitive consumers in emerging economies. In countries like China and India, bread is replacing many traditional breakfast and snack items. Increase in away from home food expenditures is leading to the increase in the number of retail outlets, instore bakeries, convenience stores, artisan bakeries, and coffee shops providing various baked good with innovative flavors. In addition, increasing urbanization and improving economic conditions in transition economies is also having a cumulative effect on the overall market.
In terms of revenue, enzymes and emulsifiers were estimated as the fastest growing ingredients. These segments are expected to register double digit growth rate in China. Enzymes and emulsifiers have several positive influences in the baking process such as improving the dough stability, extending shelf life, influencing fermentation activity and reduces production cost. Enzymes, emulsifiers, leavening agents, oils, fats and shortenings help in expanding the penetration of packaged food market . Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/baking-ingredients-market
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